Property tax in Lakewood Question (New Construction)

[Deal Guy]

How long does it take the township to update property taxes after a house is bought in a development? I see that there are houses that are occupied for a few months after closing, yet when you look up their property taxes, they are only being billed for the Land and not for the Land improvement (the actual house).
On this website you can see property taxes: https://wipp.edmundsassoc.com/Wipp1515/

1 -How long does it take for the township to update the total value including the house and not just the land value?
2 -Do you get a free ride until its updated, or do they come to you in quarter 4 and say that we know that you closed and have been living here since quarter 1, and therefore we will bill you triple or quadruple for quarter 4 to make up for the last 3 quarters?

[churnbabychurn]

No. A year later we got smacked with a massive bill for the whole year due in 30 days.
Mamash a chutzpa

[Ergel]

LOL

[churnbabychurn]

LOL

14k is no laughing matter 

[Ergel]

14k is no laughing matter 

That wasn't the LOL.
That's a big tax bill. Yikes

[Moes Tavern]

14k is no laughing matter 

Did you think they were going to forget about the previous year?

[aygart]

Can you pay with evolve?

[Yehuda25]

Did you think they were going to forget about the previous year?

IMHE anything can happen with these kind of things, you never know...

[bubkiz]

If they can forget $5 mil for bussing....

[Moes Tavern]

IMHE anything can happen with these kind of things, you never know...

My point is, you can't scream chutzpah that they wanted $14K in 30 days. You knew it was going to happen and you should put that money aside and not get caught short when the bill comes.

[aygart]

My point is, you can't scream chutzpah that they wanted $14K in 30 days. You knew it was going to happen and you should put that money aside and not get caught short when the bill comes.

he didn't know the amount. Also, usually in such cases business will make a payment plan.

[churnbabychurn]

They should have billed me quarterly, the attitude of "we'll bill you when we get round to it at the end of the year" is chutzpa imho. Shouldnt of expected better from township pencil pushers who are too busy shmozing with the latest hot developer....

(Yes, I knew that eventually I would have to pay, thats not the point.)

[Deal Guy]

They should have billed me quarterly, the attitude of "we'll bill you when we get round to it at the end of the year" is chutzpa imho. Shouldnt of expected better from township pencil pushers who are too busy shmozing with the latest hot developer....

(Yes, I knew that eventually I would have to pay, thats not the point.)

Assuming you have a mortgage, how does this affect you? Don't you pay a fixed monthly rate to the bank that already includes your estimated taxes and insurance? So how are you personally getting hit?

[churnbabychurn]

Assuming you have a mortgage, how does this affect you? Don't you pay a fixed monthly rate to the bank that already includes your estimated taxes and insurance? So how are you personally getting hit?

Didnt have a mortgage at the time (its complicated...)
Got a bill to be paid directly to the township..They billed from the date of the CO. (Had to fight with them to because the basement wasn't finished till six months later so the rate should have been less...etc.)

[skyguy918]

Assuming you have a mortgage, how does this affect you? Don't you pay a fixed monthly rate to the bank that already includes your estimated taxes and insurance? So how are you personally getting hit?

You don't need to pay taxes and insurance through the bank just because you have a mortgage. Sometimes you pay fees to the bank for that setup.

[EJB]

Have you tried this site: http://tax1.co.monmouth.nj.us/cgi-bin/prc6.cgi?menu=index&ms_user=glou&passwd=data&district=0801&mode=11

It probably contains the same information but it contains all of NJ and I find it better. And 14k is average where I'm looking

[Deal Guy]

How recent was the story where Lakewood jumped on taxes and the town went nuts, so they lowered the assessments of everyone, only to be wise guys and then hike up the tax rates on those lower assessments?